By Skyline Residential | Management
Skyline Residential has secured 3-acres of property in San Jose, at the Facchino District. The company plans to develop 650 micro units, which will be made available as affordable housing rental units. The units will offer state-of-the-art technology, including in-unit washer/dryer, top end appliances, parking, free yoga and is only a five minute walk to BART train station. The target demographic is young professionals seeking to live alone in an urban area, close to work and city living.
Richard A. Hall, Managing Partner, said “These micro units will be priced substantially lower than any comparable properties on the market, but with excellent design, amenities and proximity to city living. San Jose has a severe housing shortage and this project will help alleviate some of this pressure. We hope to make a meaningful difference to California’s housing crisis and are very excited about this project.”
This project, which comprises Parcels F, G and H of the Facchino District, will be structured as a tax credit deal. Richard A. Hall has successfully developed 11 affordable housing communities which were structure as tax credit deals.